I am having trouble setting up Microsoft Exchange Server 2010 to pull email from a GoDaddy hosted POP3 server and send via the GoDaddy hosted STMP. This is because this way we will be able to better monitor email through Exchange Server, and would be able to tell the difference between "read" and "unread" in Outlook, and so much more. I am not completely hosting the email myself (as I originally planned) because it would cost $10/month to get a static IP and GoDaddy gives us 100 emails free with 100MB each. While 100MB each is not alot, I think if we constantly pull and delete the email from the server it will be impossible to hit that limit unless we have some major downtime.

Alright so with Exchange 2010 that the POP3 connector only comes with the SBS 2011. From the little bit of research I did, unless you are using SBS Server 2011 I think you'll need to purchase a 3rd party POP3 connector. Unfortunately I can't really make any recommendations as to which is best.

Whatever tool you want, you are going to want to set it up in a one-to-one style configuration. Additionally, you'll want to also make sure you setup a send connector that connects to GoDaddy and uses it as a smarthost.